QXO Seals $11 Billion Beacon Deal, Becomes Roofing Products Powerhouse

QXO has officially finalized its acquisition of Beacon Roofing Supply for $124.35 per share, bringing the total transaction value to approximately $11 billion. The move transforms QXO into the nation’s largest publicly traded distributor of roofing, waterproofing, and complementary building materials—a strategic positioning within the massive $800 billion building products distribution sector.

The milestone will be celebrated at the New York Stock Exchange, where QXO will ring the opening bell on Wednesday, April 30, reinforcing the significance of this transformative merger.

How the Acquisition Unfolded

The tender offer phase wrapped up on April 28, 2025, at 5:00 p.m. ET. Computershare Trust Company, serving as the depositary and paying agent, confirmed that 44,835,447 shares were validly tendered and not withdrawn—representing approximately 72.06% of all issued and outstanding Beacon shares. With tender offer conditions satisfied, QXO accepted and began payment processing on April 29.

Beacon shareholders who didn’t participate in the tender offer received their compensation through a second-step merger mechanism, with each share valued at $124.35 in cash. Following the transaction’s closure, Beacon ceased trading on the Nasdaq Global Select Market before market open on April 29 and is now wholly owned by QXO.

In tandem with the acquisition closure, QXO also completed an $830 million equity private placement to support the transaction.

Strategic Vision Behind the Deal

Brad Jacobs, QXO’s chairman and chief executive officer, underscored the acquisition’s importance: “Acquiring Beacon represents a pivotal moment in our mission to establish QXO as the tech-enabled industry leader within the $800 billion building products distribution landscape. By bringing Beacon’s accomplished workforce into the fold, we’re positioned to accelerate expansion, enhance operational margins, and redefine customer satisfaction standards.”

The acquisition aligns with QXO’s ambitious growth trajectory—the company targets $50 billion in annual revenues over the coming decade through a combination of accretive acquisitions and organic expansion.

Financial and Advisory Support

The transaction drew backing from a heavyweight financial advisory team: Morgan Stanley led QXO’s financial advisory efforts, with additional guidance from Goldman Sachs, Citi, Centerview, Credit Agricole, Wells Fargo, and Mizuho. Legal representation came from Paul, Weiss as lead counsel, supplemented by Wachtell Lipton’s expertise.

This carefully orchestrated transaction positions QXO to capitalize on consolidation opportunities within the fragmented building products distribution market and leverage technology to drive competitive advantages.